Commercial vehicle telematics market predicted to grow by 10 per cent by 2022

According to a new research report on the commercial vehicle telematics market published by MarketsandMarkets the market size is expected to grow from US$7.31 billion in 2017 to US$18.43 billion by 2022, at a compound annual growth rate (CAGR) of 20.3 per cent. The major driver of the commercial vehicle telematics market is the increasing adoption for the next-generation telematics protocol (NGTP) enhancing telematics service delivery, the proliferation of telematics technology due to decreasing sensor and
July 18, 2017 Read time: 2 mins
According to a new research report on the commercial vehicle telematics market published by 6418 MarketsandMarkets the market size is expected to grow from US$7.31 billion in 2017 to US$18.43 billion by 2022, at a compound annual growth rate (CAGR) of 20.3 per cent.


The major driver of the commercial vehicle telematics market is the increasing adoption for the next-generation telematics protocol (NGTP) enhancing telematics service delivery, the proliferation of telematics technology due to decreasing sensor and connectivity cost, growing government mandate for deploying vehicle tracking in commercial vehicles and rising demand for smartphones supplements the adoption of telematics solutions and services.

Safety and compliance solutions are expected to drive the market growth since the safety and security aspect has been one of the initial functionalities of the commercial vehicle telematics. Suppliers offer solutions which integrate the compliance aspect to facilitate speed control, timeline reporting, laws and regulation control and others to incorporate government mandates and regulations of commercial vehicle telematics technology.

The professional services segment is expected to have the largest market share during the forecast period owing to the increased deployment of smart solutions which requires technological consulting, and continuous support and maintenance activities. Moreover, government bodies normally prefer professional services vendors over managed services vendors to keep a tight control over the business operations, such as deployment and support and maintenance.

According to the geographic analysis, North America is estimated to hold the largest market share during the forecast period. This is due to the major market share is early adoption of telematics technology for commercial vehicle in the region. North America constitutes of developed economies such as US and Canada. These countries are significantly advanced in terms of technology and its application deployments. The commercial automobile industry in US is more than a decade old. Moreover, government regulations, policies and mandates for the different application of commercial vehicle telematics is expected to drive the market growth in North America.

Air Quality & Weather Systems

For more information on companies in this article

Related Content

  • Electric Vehicle Charging Stations - Market Analysis and Forecast to 2020
    July 7, 2014
    GlobalData, the industry analysis specialist, has released its latest research, "Electric Vehicle Charging Stations - Market Analysis and Forecast to 2020", which provides in-depth analysis of the level 2 and 3 electric vehicle (EV) charging station markets at global and country level. The widespread use of EVs has inevitably led to a rise in the installation of EV charging stations. EVs emit less carbon dioxide than internal combustion engine (ICE) vehicles, and many governments have announced EV target
    Read More
  • Savings accrue from on-line from truck screening
    October 18, 2013
    An online truck pre-clearance system is allowing enforcement to be better targeted towards offending vehicles. Utah is the latest US State department of transportation (DOT) to deploy HELP (Heavy Vehicle Electronic License Plate) Inc’s new 360SmartView electronic truck screening and sorting system at vehicle inspection sites to speed up compliance checks. The initial locations will be at Perry on Interstate 15 (I-15), which were the first sites in the state to implement HELP’s PrePass transponder-based v
    Read More
  • Sound synthesis makes hybrid and electric vehicles safer
    January 20, 2012
    The growing popularity of hybrids and electric vehicles gives rise to new safety issues in urban environments, as many of the aural cues associated with engine noise can be missing. The solution is to intelligently make vehicles noisier. The rise in popularity of hybrids and Electric Vehicles (EVs) is a result of environmental pressures, shifts in taxation and emerging technologies for batteries and motors. Competition among the car manufacturers means these vehicles need to be cost effective to buy and ope
    Read More
  • Around 420 million connected cars expected on the road in 2018
    May 9, 2014
    According to French think tank IDATE, there will be 420 million connected cars on the road by 2018, compared to 45 million in 2013, an annual growth of 57 per cent. IDATE attributes the development of the market to European safety regulations and manufacturers looking to identify new sources of revenue.
    Read More

Highlighted Content